Tag: expansion
Prinx Chengshan the only HKEX-listed tyremaker at Tire+
Based in the city of Guangzhou, the Guangzhou International Automobile Exhibition is particularly close to the Chinese off-shore territories of Hong Kong and Macau. Still, despite the show’s proximity to such personal and corporate wealth, Prinx Chengshan unique inasmuch as it was the only Hong Kong stock exchange (HKEX) listed tyre manufacturer at the show.
Toyo investing US$138 million in US plant expansion
Toyo Tire North America Manufacturing Inc. is set to create more than 150 jobs when it invests over US$138 million in its manufacturing operation in Cartersville, Georgia. According to an official announcement, new jobs will include positions in production, support and administration.
Just Tyres kiosk opening in Rooksley Centre
Just Tyres is holding a launch party to celebrate the opening of a permanent fitting centre in Rooksley Centre, Milton Keynes on Saturday 1 December 2018. Located in the Deltic Trade Park, the new centre offers a unique tyre service enabling customers to get their tyres checked and fitted whilst shopping - and there’s the opportunity for customers to win prizes.
Fintyre to open London head office
The last couple of years have been something of a whirlwind for the European Fintyre Distribution project, which has seen the business grow from a key player in the Italian market into a wider European operation with aspirations of being the leading force in pan-European tyre distribution and perhaps even beyond. Tyres & Accessories recently met with European Fintyre chief executive officer Mauro Pessi in order find out more about the company’s decision to base its central headquarters in London as well as its general, ongoing growth.
Bridgestone expanding truck/bus tyre capacity at Warren County, USA plant
Production capacity for truck and bus radials at Bridgestone’s Warren County factory in Tennessee, USA will increase as part of a three-year, US$40 million investment to “meet market demand and address emerging customer needs.” Bridgestone Americas says it will break ground on expansion work at the 28-year old plant before the end of this year.
Formula One Autocentres buys Autowise
Formula One Autocentres is continuing its expansion programme with the acquisition of Autowise Tyre and Autocentres Ltd. Comprising of seven branches, Autowise is one of the South East’s leading tyre and autocare specialists, offering tyre, servicing, MOT, exhaust, brake, clutch and air-conditioning services. As a result Formula One Autocentres now has 110 branches in total.
Kerr’s Tyres buys M & S Tyres Enniskillen
Northern Ireland-based Kerr’s Tyres & Auto has acquired M & S Tyres in Enniskillen for an undisclosed sum. According to the company, the acquisition will further strengthen Kerr’s Tyres’ regional coverage. Kerr’s have retained the current staff and are recruiting further so customer service in the region can be maintained and further services introduced.
ATD ‘making significant progress’
American Tire Distributors, Inc. (ATD) has written to customers saying that the company is making “making significant progress with [its] recapitalization process” in a letter published on the firm’s recapitalisation website on 28 October 2018. According to the company, the steps taken “will strengthen our financial position as we continue our successful, game-changing transformation. We have a clear roadmap for the next steps in this process and the support of our key financial stakeholders has us on track to emerge by the end of the year as a stronger company with less debt that is even better positioned to serve our customers.”
17th Eden branch on its way
Eden Tyres & Servicing (ETS) is to add its 17th tyre retail site at a new Swadlincote, South Derbyshire location. PMW Property named ETS as its first unit sale on the new Optimum Business Park, saying the company have acquired a 5871 square foot unit on the development.
First Line secures £20m in funding from Santander to support global export growth
Banbury-headquartered First Line Ltd, one of the UK’s leading suppliers of premium quality automotive components to the vehicle aftermarket, has secured £20 million in funding from Santander Corporate & Commercial. The funding will help the firm expand its exports and capitalise on growth opportunities in overseas markets, it states.
Bridgestone’s Joliette plant to gain automated warehouse
A new, fully automated warehouse is to be built at the Bridgestone manufacturing facility in Joliette, Canada. Bridgestone Canada Inc. is investing CA$56 million (£32.8 million) in the project, which will give it a maximum storage capacity of 500,000 car and light commercial vehicle tyres once the facility opens in early 2020.
Jiangsu General investing US$300 million in Thailand tyre plant
Jiangsu General Science Technology Co. Ltd. is set to invest around US$300 million in the construction of a tyre manufacturing facility in Thailand. The news follows earlier reports published in the Spring that Jiangsu General was considering Cambodia for the investment.
RH Claydon buys Unity Tyre stock and assets
East of England-based tyre wholesaler RH Claydon has expanded its business with the acquisition of agricultural, industrial and specialist tyre wholesaler Unity Tyre.
VMI Extrusion relocates to Cham, Germany facility
On 12 September VMI’s new extrusion technology centre and manufacturing facility was officially opened by Karin Bucher, mayor of Cham and Edward Holweg, COO of VMI, in the presence of employees and invitees.
Test World opening indoor wet and dry asphalt test tracks
Next month, Test World will open its new temperature-controlled wet and dry asphalt indoor tracks at its facility near Ivalo, Finland. These new tracks complement the new and extended snow and ice indoor tracks that opened in April.